Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Luxembourg
LUXCP020000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
122.12
Year-over-Year Change
4.60%
Date Range
1/1/1995 - 12/1/2023
Summary
The Consumer Price Index (CPI) for Alcoholic Beverages, Tobacco and Narcotics in Luxembourg measures changes in the prices paid by consumers for these products over time. This trend is crucial for understanding inflation and consumer spending patterns in the country.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The CPI for Alcoholic Beverages, Tobacco and Narcotics in Luxembourg is a key economic indicator that tracks the cost of these goods and services. It is used by policymakers, businesses, and analysts to assess the overall cost of living and make informed decisions.
Methodology
The data is collected through surveys of consumer expenditures and retail prices.
Historical Context
This CPI trend is used to inform monetary and fiscal policies, as well as to analyze consumer behavior and market trends.
Key Facts
- The base year for the Luxembourg CPI is 2015.
- Alcoholic beverages, tobacco, and narcotics account for approximately 2.5% of household consumption in Luxembourg.
- The CPI for this category has increased by 8.2% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Alcoholic Beverages, Tobacco and Narcotics in Luxembourg measures the changes in the prices paid by consumers for these products over time.
Q: Why is this trend relevant for users or analysts?
A: This CPI trend is crucial for understanding inflation and consumer spending patterns in Luxembourg, which is important for policymakers, businesses, and analysts to make informed decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer expenditures and retail prices.
Q: How is this trend used in economic policy?
A: This CPI trend is used to inform monetary and fiscal policies, as well as to analyze consumer behavior and market trends in Luxembourg.
Q: Are there update delays or limitations?
A: The CPI data for Luxembourg is published monthly with a relatively short delay, making it a timely indicator of price changes.
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Citation
U.S. Federal Reserve, Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Luxembourg (LUXCP020000IXNBM), retrieved from FRED.